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CREA updates its resale housing forecast for 2016

The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2015 and 2016.

RioCan Real Estate Investment Trust announces settlement with Target Corporation

RioCan Real Estate Investment Trust (RioCan) is pleased to announce that, on its behalf and on behalf of its co-owners, it has entered into a binding agreement (Settlement Agreement) with Target Corp., the US parent of Target Canada Co. (Target Canada), concluding terms of settlement relating to the eighteen leases that were disclaimed pursuant to the Companies' Creditors Arrangement Act (CCAA).

TREB announces commercial and residential real estate figures for November 2015

Toronto Real Estate Board President Mark McLean announced on December 3, 2015 that Greater Toronto Area REALTORS® reported 7,385 home sales through TREB’s MLS® System in November 2015 – up by 14 per cent compared to November 2014. This result also represented the best result on record for the month of November. Sales through the first eleven months of 2015 amounted to 96,401.

Real Estate Council of BC cancels licence of James Parsons

An Appeal Decision by the Financial Services Tribunal of BC has upheld a decision by a Discipline Committee of the Real Estate Council of BC to cancel the real estate licence of James Sidney Parsons, an associate broker with One Percent Realty Ltd., Vancouver, who worked primarily in the Victoria area.

Housing starts in Toronto trend higher in October 2015

Housing starts in the Toronto Census Metropolitan Area (CMA) trended at 45,765 units in October compared to 45,782, in September according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.